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Evening Standard
Evening Standard
Business
Mark Banham

National Express gazumped by DWS in Stagecoach takeover

Stagecoach National Express DWS United Kingdom

Transport group Stagecoach has ditched its support for a £1.9 billion merger with National Express and agreed to a higher rival £595 million takeover

(Picture: PA Archive)

National Express’ takeover of rival Stagecoach has been gazumped by a Germanasset management.

A £595 million approach tabled today by DWS Infrastructure, part of German asset management firm the DWS Group, is driving the proposed £1.9 billion merger off the road.

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